Cassaday & Co Wealth Management LLC Trims Stock Holdings in QUALCOMM Incorporated (NASDAQ:QCOM)

Cassaday & Co Wealth Management LLC decreased its holdings in QUALCOMM Incorporated (NASDAQ:QCOM) by 2.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,700 shares of the wireless technology company’s stock after selling 122 shares during the period. Cassaday & Co Wealth Management LLC’s holdings in QUALCOMM were worth $799,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Legal & General Group Plc increased its stake in shares of QUALCOMM by 0.9% in the second quarter. Legal & General Group Plc now owns 10,036,779 shares of the wireless technology company’s stock worth $1,999,114,000 after purchasing an additional 86,195 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of QUALCOMM by 30.2% in the third quarter. Van ECK Associates Corp now owns 7,506,863 shares of the wireless technology company’s stock worth $1,250,644,000 after purchasing an additional 1,741,432 shares in the last quarter. Matrix Capital Management Company LP bought a new position in shares of QUALCOMM in the first quarter valued at approximately $1,171,516,000. Dimensional Fund Advisors LP boosted its position in shares of QUALCOMM by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 4,875,418 shares of the wireless technology company’s stock valued at $970,951,000 after acquiring an additional 173,673 shares during the period. Finally, Swiss National Bank boosted its position in shares of QUALCOMM by 0.3% in the third quarter. Swiss National Bank now owns 3,312,400 shares of the wireless technology company’s stock valued at $563,274,000 after acquiring an additional 8,300 shares during the period. Hedge funds and other institutional investors own 74.35% of the company’s stock.

QUALCOMM Trading Down 2.1 %

QCOM stock opened at $160.50 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.79 and a current ratio of 2.40. QUALCOMM Incorporated has a one year low of $125.67 and a one year high of $230.63. The company’s 50 day moving average price is $168.35 and its two-hundred day moving average price is $182.34. The company has a market capitalization of $178.32 billion, a PE ratio of 17.85, a price-to-earnings-growth ratio of 2.70 and a beta of 1.28.

QUALCOMM Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 19th. Investors of record on Thursday, December 5th will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Thursday, December 5th. QUALCOMM’s payout ratio is 37.82%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on QCOM. JPMorgan Chase & Co. cut their price objective on shares of QUALCOMM from $210.00 to $195.00 and set an “overweight” rating for the company in a research report on Tuesday, November 5th. Piper Sandler restated an “overweight” rating and issued a $205.00 price objective (up from $185.00) on shares of QUALCOMM in a research report on Thursday, August 1st. KeyCorp lowered shares of QUALCOMM from an “overweight” rating to a “sector weight” rating in a research report on Tuesday, October 8th. Westpark Capital restated a “hold” rating on shares of QUALCOMM in a research report on Tuesday, July 30th. Finally, Barclays raised their price objective on shares of QUALCOMM from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $210.92.

Insider Buying and Selling

In related news, General Counsel Ann C. Chaplin sold 1,901 shares of QUALCOMM stock in a transaction on Monday, November 4th. The shares were sold at an average price of $165.06, for a total value of $313,779.06. Following the transaction, the general counsel now directly owns 12,007 shares of the company’s stock, valued at $1,981,875.42. The trade was a 13.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CTO James H. Thompson sold 8,000 shares of QUALCOMM stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $169.80, for a total transaction of $1,358,400.00. Following the completion of the transaction, the chief technology officer now directly owns 213,364 shares in the company, valued at approximately $36,229,207.20. The trade was a 3.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 16,146 shares of company stock valued at $2,709,186 over the last three months. 0.08% of the stock is owned by company insiders.

About QUALCOMM

QUALCOMM Incorporated engages in the development and commercialization of foundational technologies for the wireless industry worldwide. It operates through three segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on 3G/4G/5G and other technologies for use in wireless voice and data communications, networking, computing, multimedia, and position location products.